Oct 7 (Reuters) - Futures tracking Canada's blue-chip stocks fell on Wednesday as elevated oil prices and climbing yields made investors risk averse, while markets awaited the minutes of the US Federal Reserve's September meeting later in the day.
December futures for the S&P/TSX index were down 0.41% at 05:59 a.m. ET (0959 GMT).
Brent crude futures climbed above $100 a barrel as higher energy prices continued to fan inflationary worries, clouding the global fiscal outlook and reinforcing expectations of a prolonged higher-interest-rate environment
Yields on the US benchmark 10-year Treasury note inched higher while the 30-year Treasury note yield scaled its highest level since 2002, reflecting expectations that interest rates will remain higher
Markets are awaiting the minutes of the U.S. Federal Reserve's September meeting later on Wednesday for further clues on the monetary policy path
Traders expect the Federal Reserve to keep interest rates unchanged at its October meeting, while pricing in an 86% chance of a quarter-point rate hike in December, according to LSEG data.
In Canada, investors are pricing in at least one 25 basis point hike by the Bank of Canada by year-end, according to data compiled by LSEG
Gold and silver slipped more than 1% as a stronger US dollar and higher yields weighed, further hurting risk appetite in the resource-heavy market
Canada's main stock index (.GSPTSE), opens new tab rose to an 11-day high on Tuesday, led by utilities (.GSPTTUT), opens new tab and metal mining shares (.GSPTTMT), opens new tab
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(This story has been refiled to add the dateline.)
Reporting by Avinash P and Anand Gopal in Bengaluru; Editing by Tasim Zahid
